The weekly Davis Index for HMS 1&2 (80:20) or A3 scrap decreased by $10/mt to $383/mt fob Baltic Sea and $5/mt to $395/mt fob Black Sea on Monday amid uncertain trading prospects.

 

Weak demand in Turkey slowed down negotiations in the Russian export ferrous scrap market with bids for HMS 1&2 (80:20) from St Petersburg dropping by $10/mt to $440/mt cfr after the same grade from the USA was sold at $450/mt cfr Iskenderun.

 

Scrap availability from Rostov-on-Don to Turkey remained limited as the current prices are not acceptable for most exporters, considering high export duty (a minimum of €70/mt) and difficult collection trends.

 

Scrap inflow to export yards was sluggish in Russia because of which, the weekly Davis Indexes for A3 scrap were unchanged at RUB22,975/mt delivered St Petersburg dock and RUB22,700/mt delivered Rostov-on-Don dock on Monday.

 

($1=RUB74.12)

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